The Chaguzi platform was founded in 2017 with the objective to facilitate lending for clean energy products in Kenya for “bottom-of-the-pyramid” customers. Chaguzi has so far served over 20k. customers and is partnered with Equity bank and other financial institutions.
Chaguzi is a subsidiary of MicroEnergy Credits which has worked with local financing partners who have delivered millions of loans for clean energy products, including solar lights, improved cookstoves and water purifiers in India and Africa. For this purpose and to target the African market for household solar energy, MEC has launched Chaguzi, a mobile marketplace for lenders and clean energy products in Kenya. Chaguzi (“choice” in Swahili) is a FinTech platform solution that enables customers without formal credit histories to access clean energy loans via a mobile phone or web app, enabling them to choose both their clean energy product and financing options (loan types). Chaguzi brings together lenders, clean energy product suppliers and customers in one marketplace to serve the 20+m. Kenyans without access to energy or finance.
App Process Flow
